We Are Sorry To Inform You That The Big Turnaround Has Been Postponed For Another Year

Bertel Schmitt
by Bertel Schmitt
we are sorry to inform you that the big turnaround has been postponed for another

14 millions Americans are out of work. The government is facing default. U.S. home prices are at their lowest level since 2003, and Robert Shiller, the economist who co- founded the S&P/Case-Shiller index of U.S. home prices, said a decline in property values up to 25 percent in the next five years “wouldn’t surprise me at all.” From Bernanke on down, everybody is scaling back the rhetoric that economic growth is just around the corner. Suddenly, automakers aren’t so sure anymore about all that pent-up demand that will bring back U.S. car sales back to their old glory. Reuters asked around and didn’t come back with good news.

Hyundai Motor America Chief John Krafcik is the most outspoken: “When people don’t have home equity, it’s often very difficult for them to pull that trigger and buy a new car. Jobs are still an issue, housing is still a big issue and I don’t think that’s talked about enough in the context of our industry.”

And it doesn’t look like there will be many new jobs from Detroit.

“Our manufacturing folks have been tremendous at squeaking out extra units through improving line rates, adding on extra shifts,” GM’s U.S. sales chief Don Johnson said. Translation: No new jobs.

Ford Motor Co’s global marketing and sales chief Jim Farley said Ford was not making big bets on production.

The big recovery has been postponed for a year or more.

“There’s probably enough pent-up demand to keep us going at this rate for at least another 12 months, by which time we would fully expect the underlying fundamentals of the economy to really start kicking into gear and having those fundamentals drive the industry further,” said Don Johnson.

Uh-oh. “Enough pent-up demand to keep us going?” Even the pent-up demand is not what it used to be.

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  • George B George B on Jul 25, 2011

    Here in the Dallas, TX area we missed out on most of the insanity in the housing market*, but economic growth is still slower than I would expect comming out of a recession. I blame government inflicted damage in the form of regulatory uncertainty. Nobody is quite sure what economically destructive action a flailing government will take next. * In Texas, when demand for homes increased, home builders built more houses. No shortage of land, lumber, or Mexican labor to drive up prices. When demand dropped, home builders quit building more houses. Memory of the S&L crisis may have also helped keep both borrowers and lenders somewhat sane.

  • Cheezeweggie Cheezeweggie on Jul 25, 2011

    Stop your pathetic American Whining. Once the financial overlords devour the middle class just pray you are on the side driving the cars instead of polishing them. While you're at it make sure you teach your children Spanish & Chinese.

    • Mazder3 Mazder3 on Jul 25, 2011

      Hey, I can make a solid $8.50 an hour polishing cars! And, if I play my cards right, one of those overlords might slip me a $20! :)

  • John On my 6th Saab now....always looking for another
  • 3SpeedAutomatic Thunderbird Production Numbers:1971 - 36,0551972 - 57,8141973 - 87,2691974 - 58,4431975 - 42,6851976 - 52,9351977 - 318,1401978 - 352,7511979 - 284,141 1980 - 156,803 1981 - 86,693 1982 - 45,142 1983 - 121,999 1984 - 170,533 1985 - 151,852 1986 - 163,965 Looks like the T'Birds on the Torino frame sold like gang busters ('77 thru '79).
  • Jeanbaptiste Any variant of “pizza” flavored combos. I only eat these on car trips and they are just my special gut wrenching treat.
  • Nrd515 Usually for me it's been Arby's for pretty much forever, except when the one near my house dosed me with food poisoning twice in about a year. Both times were horrible, but the second time was just so terrible it's up near the top of my medical horror stories, and I have a few of those. Obviously, I never went to that one again. I'm still pissed at Arby's for dropping Potato Cakes, and Culver's is truly better anyway. It will be Arby's fish for my "cheat day", when I eat what I want. No tartar sauce and no lettuce on mine, please. And if I get a fish and a French Dip & Swiss? Keep the Swiss, and the dip, too salty. Just the meat and the bread for me, thanks. The odds are about 25% that they will screw one or both of them up and I will have to drive through again to get replacement sandwiches. Culver's seems to get my order right many times in a row, but if I hurry and don't check my order, that's when it's screwed up and garbage to me. My best friend lives on Starbucks coffee. I don't understand coffee's appeal at all. Both my sister and I hate anything it's in. It's like green peppers, they ruin everything they touch. About the only things I hate more than coffee are most condiments, ranked from most hated to..who cares..[list=1][*]Tartar sauce. Just thinking about it makes me smell it in my head. A nod to Ranch here too. Disgusting. [/*][*]Mayo. JEEEEZUS! WTF?[/*][*]Ketchup. Sweet puke tasting sludge. On my fries? Salt. [/*][*]Mustard. Yikes. Brown, yellow, whatever, it's just awful.[/*][*]Pickles. Just ruin it from the pickle juice. No. [/*][*]Horsey, Secret, whatever sauce. Gross. [/*][*]American Cheese. American Sleeze. Any cheese, I don't want it.[/*][*]Shredded lettuce. I don't hate it, but it's warm and what's the point?[/*][*]Raw onion. Totally OK, but not something I really want. Grilled onions is a whole nother thing, I WANT those on a burger.[/*][*]Any of that "juice" that Subway and other sandwich places want to put on. NO, HELL NO! Actually, move this up to #5. [/*][/list=1]
  • SPPPP It seems like a really nice car that's just still trying to find its customer.